Only 2 states can survive without FAAC-BugIT report

-

 


BudgIT's recent report highlights the fiscal challenges facing Nigerian states, revealing that only Lagos and Rivers can independently cover their operating costs without relying on the Federation Account Allocation Committee (FAAC). 


According to the 2024 State of States Report, while Lagos and Rivers have IGR to operating expense ratios of over 118%, several states like Ogun, Anambra, Kaduna, Kwara and Cross River can only generate enough revenue to cover about 50% of their expenses. 

Alarmingly, 34 states depend on FAAC for 62% of their recurrent expenditures, with 32 states relying on it for at least 55% of their total revenue.


The report emphasizes that in the 2023 fiscal year, the overall revenue for all states increased by 31.2%, highlighting ongoing reliance on federal transfers.

Comments

Post a Comment

Popular posts from this blog

FUT Minna to convert it Bosso Campus into Medical College

-
Image
                     Former senate Building at Bosso Campus The Federal University of Technology, Minna (FUTMinna) has announced plans to develop its Bosso Campus into a cutting-edge medical school, aligning with the highest international standards. This initiative is part of a broader collaboration with the Federal Medical Centre, Bida (FMCB), to create a School of Medical Science and Health Technology. The partnership aims to transform FMCB into a University Teaching Hospital, enhancing the quality of medical education and healthcare services. The two institutions took a significant step forward during a meeting on Thursday, November 7, 2024, when FUTMinna's Academic Planning and Development Unit hosted FMCB’s management team to assess the progress of the College of Medical Science development. This collaboration was officially formalized on July 23, 2024, marking a pivotal moment in the advancement of healthcare education and res...
Read more

Over 20 people kidnapped along Mariga -Kontagora - speaker

-
Image
  Over 20 passengers have reportedly been kidnapped on the Mariga-Kontagora road in Niger State, according to Barrister Abdulmalik Sarkin-Daji, the Speaker of the Niger State House of Assembly.  The incident occurred when bandits blocked the road between Baban-Lamba and Beri. Sarkin-Daji expressed concern about the military's dismissal of claims regarding bandit activities near military training grounds in Kontagora,  noting that victims previously kidnapped had reported being held in a forest close to the Kontagora Army Barracks.  He urged the military to take the feedback from affected communities seriously and work to eliminate the bandits operating in the area.  The Speaker emphasized that the military's role is to protect citizens, calling on federal authorities to address the situation effectively.
Read more

FG Fresh recruitment portal opened- FCSC

-
Image
  The Federal Civil Service Commission (FCSC) has announced the opening of its recruitment portal for applications into various vacancies within the Federal Civil Service. This announcement was made by Taiwo Hassan, the head of press and public relations of the commission, in a statement on Monday, January 27, 2025. V acancy Information : Details of the available positions have been published on the Commission's official website ( fedcivilservice.gov.ng ) and in major newspapers such as The Sun , Daily Trust , and The Nation on January 27, 2025 A pplication Link : Eligible applicants are required to apply via the dedicated portal at recruitment.fedcivilservice.gov .ng Candidates are advised to apply for only one position to avoid disqualification.Applicants with physical challenges are encouraged to disclose the nature of their disability in their applications. Interested individuals are encouraged to visit the portal promptly, as recruitment processes typically have deadlines.
Read more